VENTURE CAPITAL POST

Anthony Foxx is expected to sign a deal in Havana on Tuesday. The deal will allow resumption of commercial flights between the two countries. All the major airlines are expected to take part in the bidding of commercial flights towards different destinations of Cuba.

The week long trade expo celebration in Havana, Cuba brought it some 50 American businesses, but most of these firms still have no idea how to earn money in the communist-ruled country with a population that has minimum purchasing power.

The latest outcome of the two-day meeting between the US and Cuba held in Havana has paved the way for reviving the airline service between the both the nations. The commercial airline services between both the nations have been suspended for a long time. The agreement on restoring the airline service is expected to be complete this year. The officials from both the countries have decided to meet again before December. The follow-up meeting is expected to be held in Washington.

Castro knocks out U.S. trade embargo at UN. The Cuban President, Raul Castro spoke Saturday for the first time at the United Nations and salute renewed diplomatic ties with the U.S. as "major progress". However, he knocks out a US trade embargo as the number one hindrance to Cuba's economic development, as reported by MSN News.

New regulations have been issued by the U.S. to alleviate restrictions on American companies venturing business in Cuba and opening up travel in the latest action to soften the US trade embargo on the Communist country.

Cuba renews its annual campaign urging the United Nations to condemn the US economic embargo. Foreign Minister Bruno Rodriguez told media the Cold War-era embargo had cost Cuba some $833.7 billion over five decades. "Seventy-seven percent of the Cuban population was born and has lived under the cruel effects of the blockade, the humanitarian impact and damage is extreme and cannot be measured (only) in numbers," he said.

The United States on Friday eased restrictions on imports of goods and services from private Cuban entrepreneurs as part of Washington's rapprochement with Havana after more than half a century of enmity.